MIFCO reports improved fishing in October with MVR 30 million paid out

The state-owned fish company, MIFCO, on Monday announced that fishing improved last month compared to September this year.

According to statistics released by MIFCO, 462 vessels landed 1,356 tonnes of fish in October, for which MVR 30,038,039 was paid to fishermen. In comparison, MVR 27.3 million was released in September.

Last month, 1,354.77 tonnes of skipjack tuna were purchased, with MVR 30,007,339 paid to the 462 vessels that supplied the catch. An additional MVR 30,700 was released to five vessels that weighed yellowfin tuna above 15 kg.

According to MIFCO’s statistics so far this year, the highest catch and payout was recorded in April, when 4,414 tonnes of fish were weighed and MVR 78.8 million was released to fishermen. The lowest fishing this year was in June, with 568 tonnes purchased and MVR 11.33 million paid.

MIFCO reiterated that the price of fish will not fall below MVR 20 per kg, and has decided to maintain a minimum purchase price of MVR 20.